Analysts’ Recent Ratings Updates for Acacia Communications (ACIA)

A number of firms have modified their ratings and price targets on shares of Acacia Communications (NASDAQ: ACIA) recently:

  • 7/24/2017 – Acacia Communications had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $57.00 price target on the stock.
  • 7/22/2017 – Acacia Communications had its “neutral” rating reaffirmed by analysts at B. Riley. They now have a $44.50 price target on the stock.
  • 7/22/2017 – Acacia Communications was given a new $50.00 price target on by analysts at Northland Securities. They now have a “buy” rating on the stock.
  • 7/17/2017 – Acacia Communications had its “neutral” rating reaffirmed by analysts at B. Riley. They now have a $44.50 price target on the stock.
  • 7/17/2017 – Acacia Communications had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $50.00 price target on the stock, down previously from $65.00.
  • 7/17/2017 – Acacia Communications had its “outperform” rating reaffirmed by analysts at William Blair.
  • 7/17/2017 – Acacia Communications had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $57.00 price target on the stock, down previously from $66.00.
  • 7/11/2017 – Acacia Communications was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 6/29/2017 – Acacia Communications was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Acacia Communications, Inc. designs, develops, manufactures and markets communication equipments. The Company offers coherent optical interconnect products for cloud infrastructure operators and content and communication service providers. It operates primarily in the Americas, Europe, the Middle East, Africa and the Asia Pacific region. Acacia Communications, Inc. is headquartered in Maynard, Massachusetts. “
  • 6/23/2017 – Acacia Communications had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $50.00 price target on the stock.
  • 6/22/2017 – Acacia Communications is now covered by analysts at DA Davidson. They set a “buy” rating and a $61.00 price target on the stock.
  • 6/15/2017 – Acacia Communications had its “buy” rating reaffirmed by analysts at William Blair. They wrote, “Acacia Communications, Inc. Highlights From William Blair’s 37th Annual Growth Stock Conference President and Chief Executive Officer Raj Shanmugaraj and Chief Financial Officer John Gavin provided a company update at William Blair’s 37th Annual Growth Stock Conference. Key highlights are as follows:  With China visibility remaining front-and-center of Acacia story, management reiterated it expects to see stronger demand in the second half of 2017 compared with the first half. Management segments China demand into three buckets, which it calls “steady-state business,” “backbone expansion opportunity,” and “provincial network build.” Steady-state business includes ZTE’s (largest customer in China) ongoing metro projects in APAC and EMEA, where it generates a significant portion of its revenue and is seeing solid demand environment currently. India, for example, is a significant driver. Backbone network expansion opportunity, such as China Mobile, is starting to recover, according to management. The project delay for the next phase of backbone ring buildout that ZTE saw in April (discussed during Acacia’s first-quarter earnings) is expected to resume in late June, according to management. Management also clarified that the current China Telecom tender (part of Phase 12 buildout) is largely focused on metro ROADMs and will have minimal effect on Acacia; however, it expects additional tenders from CT to focus on coherent backbone interconnect. As for provincial networks (Phase 13 projects), management anticipates over 20 provinces served by China Mobile and China Telecom to each put out tenders starting in the second half of the year, though timing, it notes, remains uncertain.””

Shares of Acacia Communications, Inc. (ACIA) opened at 46.37 on Wednesday. The stock has a market capitalization of $1.79 billion, a P/E ratio of 13.65 and a beta of 3.80. Acacia Communications, Inc. has a 52 week low of $38.50 and a 52 week high of $128.73. The company has a 50-day moving average of $42.74 and a 200-day moving average of $50.84.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.34. Acacia Communications had a return on equity of 43.80% and a net margin of 30.02%. The business had revenue of $114.67 million during the quarter, compared to the consensus estimate of $112.46 million. During the same period in the prior year, the company posted $0.44 EPS. The firm’s revenue for the quarter was up 35.7% compared to the same quarter last year. On average, analysts anticipate that Acacia Communications, Inc. will post $1.90 EPS for the current year.

In other Acacia Communications news, CFO John F. Gavin sold 4,634 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $48.54, for a total value of $224,934.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Murugesan Shanmugaraj sold 8,983 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $48.52, for a total value of $435,855.16. The disclosure for this sale can be found here. Insiders sold a total of 34,507 shares of company stock valued at $1,666,685 over the last 90 days.

Acacia Communications, Inc provides high-speed coherent interconnect products. The Company’s products include a series of low-power coherent digital signal processor application-specific integrated circuits (DSP ASICs), and silicon photonic integrated circuits (silicon PICs), which it has integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second (Gbps) for use in long-haul, metro and inter-data center markets.

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